711 Montgomery Street in Jersey City has sold to Sequoia Development Group for an undisclosed amount. The sellers, Florida-based Rescore Montgomery LLC, had purchased the site in April 2015 for $4.5 million. Sequoia Development Group joined a partnership with Grid Real Estate to work on the development. The 16-story project is expected to yield 309 apartments, and today YIMBY has the first look at renderings.
Groundbreaking has officially occurred for 136 Summit Avenue, a nine-story mixed-use building coming to Jersey City, New Jersey. The site is located a mile away from the Journal Square Train Station, serviced by the PATH trains. Monticello Equities is responsible for the development, and purchased the property from GRID Real Estate LLC. GRID is still involved, working as advisors and entitlement managers.
Lenox, a new residential building at 207 Van Vorst Street, is opening its door for tenants in Jersey City’s historic Paulus Hook. The neighborhood is near the Hudson River, and sits across from Manhattan’s Downtown skyline.
While Jersey City’s ongoing real estate boom has been substantial and transformative, almost the entirety of the action has been devoted to the creation of new residential space, including towers like 99 Hudson Street. But a few blocks north, the city’s first new commercial office building in decades, dubbed Harborside Tower, is getting ready to rise at 136 Greene Street, and renderings have now been released.
Leasing has begun for a new mixed-use complex in Jersey City, dubbed SoHo Lofts. The newly opened 377-unit building at 273 16th Street is the second project by Manhattan Building Company, aka MBC, in an area of Jersey City they hope to rebrand as SoHo West, SoHo meaning South of Hoboken, and West for its location, immediately west of Manhattan. Jersey City Mayor Steven Fulop attended the celebration and was given the ceremonial role of cutting the ribbon to celebrate the opening.